Genzyme’s Gaucher Initiative: Global Risk and Responsibility In contrast to other biotechnology firms‚ Genzyme began focusing on supplying raw materials (enzymes)‚ fine chemicals and reagents to large research laboratories and pharmaceutical companies. The company rudiments‚ from the very beginning‚ for generating capital to finance new projects was to use revenues to raise cash flows and to create a track record that would allow it to fund further growth. The company was founded in 1981 on
Premium Corporation Medicine Biotechnology
GENZYME´S CSR DILEMMA: HOW TO PLAY ITS HANDS 1. INTRODUCTION Twenty years ago and earlier‚ with rare exceptions‚ the only corporate charity was a bit of gifting by the CEO‚ perhaps to the arts. Ten years ago‚ corporate philanthropy and volunteerism became popular as an a la carte add on. In these posts from the Clinton Global Initiative (CGI)‚ I am turning the spotlight on the avant garde of CSR: companies that make community and global problem-solving part of their business platform‚ thus
Premium Malaria Neglected diseases Project management
Case: Genzyme Corporation Problem: High equity financing company Genzyme has a tradition to be financed with equity. High equity ratio has advantages such as low agency costs related to debt‚ lower financial stress and more flexibility for management‚ which is especially crucial for start-up companies‚ such as in the early stage of Genzyme. However‚ besides losing the tax shield from debt‚ high equity financing leads to an increasingly diffused ownership‚ which would in turn causes problems such
Premium Stock market Information asymmetry Finance
ENT4400 – SUMMARY + REFLECTION Case study: Genzyme‚ schilling‚ chapter 6 page 105-109 Summary of the case: Genzyme was founded in 1981‚ Sanofi purchased the company in 2011. They went public in 1986‚ raising 27 million dollars. Genzyme startet as a start up Company by scientists studying genetically inherited enzyme diseases. Their strategy didn’t focus on the “blockbuster drugs” like other biotechnology companies but drugs for rare diseases. To developing a drug‚ it takes 10-14 years at
Premium Pharmacology Pharmaceutical drug Biotechnology
Gaucher Disease Gaucher is a rare‚ inherited metabolic disorder in which deficiency of the enzyme glucocerebrosidase results in the accumulation of harmful quantities of certain fats (lipids). It can have serious effects on numerous body organs including the liver‚ spleen‚ bones and central nervous system. Gaucher disease has three common clinical subtypes. Type 1‚ which is the most common form of the disease. Type 2‚ which typically begin within 3 months of birth‚ and Type 3‚ which can begin
Premium Blood Red blood cell Liver
Briefly outline what Corporate Social Responsibility (CSR) is and how the initiatives on reporting CSR have developed over the past few decades. Explain what the Global Reporting Initiative is. Social responsibility has been a term used in business since the 1700’s with to focus then being child labour and increasing working conditions. It was only during the 1970’s when social responsibility gathered pace and a definition was given “The social responsibility of business encompasses the economic
Premium Corporate social responsibility Business ethics Social responsibility
definition of the report boundary should be sufficient to reflect significant economic‚ environmental‚ and social impacts and enable stakeholders to assess the reporting organization’s performance in the reporting period. CO M P L E T E N E S S The reported information should be sufficiently accurate and detailed for stakeholders to assess the reporting organization’s
Premium Sustainability
one? If I were Jane Barrow‚ I would suggest shale gas as the best. Since the industrial‚ electric power and residential make a large contribution for the use of natural gas‚ the stakeholder in these parts are very important. After multiattribute risk analysis‚ the chart from Exhibit 10 shows they are care about using energy produced in their own jurisdiction. From the Exhibit 3‚ with the increasing need of natural gas to satisfy consumption‚ more and more net imports have been done. Shale gas has
Premium Natural gas Coal Petroleum
org/index.php/.../93-global-responsability-efmd-2003 The European Foundation for Management Development GLOB AL RESPO NSIBILITY A N efmd INITIATIVE TOWARDS SUSTAIN A BLE SOCIETAL A ND BUSINESS M A N A GEMENT DEVELOPMENT Supported by The efmd President’s Task Force 1 ??? Foreword An open invitation by Eric Cornuel and Anders Aspling Chapter I Prospects for future action Chapter II What has efmd done so far in relation to the Global Responsibility initiative? Chapter III The efmd
Premium Social responsibility Globalization Business ethics
Background Considered a leader in the biotechnology industry‚ Genzyme has come a long way since its inception as a supplier of basic chemicals and reagents in 1981. As a leader in the development of orphan drugs‚ Genzyme realized revenues of almost $4B in 2007. Greater than 30% of its revenue in 2007 is attributed to the sales of drugs that target orphan diseases‚ such as Cerezyme‚ a novel Genzyme drug used to treat Gaucher disease. Due to the lack of previous research on orphan diseases‚ the
Premium Orphan drug Brazil Government